Member Article

Half of British bosses predict further decline

British bosses are preparing for a year long battle through the recession, according to new research.

The second stage of a study by careers site theladders.co.uk found that 37% of UK employers believe that the UK will still be in recession by 2011.

The survey found that one in three bosses believe that so far, the recession has “just sorted the wheat from the chaff” whilst 72% cannot see any major recruitment drives for at least six months. 73% know at least one person who has been made redundant in the last four weeks.

Six months ago, when the first stage of the study was conducted, 61% agreed that they would not take a pay cut to save their job. This time around the figure who would refuse a pay cut has dropped to 25%.

Derek Pilcher, Managing Director of TheLadders, said: “This focus on generating business and growing the sales channel is an opportunity. Far from the ‘cut back to the core’ mentality which sees businesses literally hibernating during periods of economic turbulence, recruiting individuals who can go out and create new opportunity has a knock-on effect across the organization. It is a positive sign in an otherwise very difficult market.”

The study involves interviews with 300 bosses every six months to gauge how the economy is shaping their attitudes to the job market.

This was posted in Bdaily's Members' News section by Ruth Mitchell .